Wolff Preparing to Divest Shareholding Valuing Mercedes Formula 1 Team at £4.6bn
Mercedes team principal Toto Wolff is in advanced talks to offload part of his shareholding in the Mercedes F1 outfit.
The deal values Mercedes at £4.6 billion – an unprecedented figure for a Formula 1 squad – after McLaren was appraised at £3.5bn in a change of corporate structure last September.
The Austrian executive, who holds a 33% stake of Mercedes F1, would sell a stake approximately 5%.
Wolff, aged 53 would stay on as team boss and CEO should the deal proceed.
Shareholder Breakdown
Remaining partners in the team are Mercedes-Benz and industrial group Ineos Group, who each also own a third of the enterprise.
A Mercedes spokesperson said: "We are providing no official statement on this. The management structure of Mercedes F1 will remain unaltered, and all three partners are dedicated to the ongoing success of Mercedes-Benz in F1."
Valuation Increase
The deal signifies a substantial rise in value of Mercedes F1 since Ineos Group bought its share for £208 million in 2022.
The rise demonstrates the expansion in valuations of Formula 1 outfits recently due to the growing popularity of the sport around the world.
This trend was evident with the success of the F1 movie featuring Brad Pitt, which was released in summer 2023 and earned more than $630 million (£458 million) at cinemas worldwide.
The film represents the actor's top-grossing film and the most successful sports movie to date.
Present Performance
Mercedes are runner-up in the team standings, behind McLaren, with three Grands Prix remaining in the current championship.
Their lead driver British driver George Russell has won 2 of the 21 grands prix this year and is fourth in the individual standings behind McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team won a record eight straight team titles and seven drivers' titles, six for Lewis Hamilton and one by Nico Rosberg, from 2014 and 2021.
